stock trade |Form 8949 Capital Gain & Wash Sales calculator software

For example, companies may spinoff or merge. Brokers vary widely as to report it on their statements. It is impossible to automate the importing of these transactions in TradeMax, so manual adjustment is required by the user to account for the new stock.

Shares Added to AccountThere are times when you want to add shares of a security from an account without affecting your cash balance. For example, you may inherit shares or receive them as a gift. These transactions are different from Buys, and TradeMax provides you with a specific function to better manage your portfolio.

The cost per share for inherited shares is generally the value of the shares on the date that the deceased died or on an alternative valuation date. When you receive the inherited shares, record the cost per share on that date

The cost per share for gift shares depends on the value of the shares on the date of the gift and the price that the giver paid for the shares, as well as your sale price if you sell the shares.

Shares Removed from AccountThere are times when you want to remove shares of a security from an account without affecting your cash balance. For example, if the security has been privatized, these transactions are different from Sells, and TradeMax provides you with a specific function to better manage your account.

Deposit into AccountDeposit is an umbrella term for any money you receive into any account you track in TradeMax. There are times when you want to deposit a sum of money to an account to better manage your transactions .

Withdraw from AccountThere are times when you want to withdraw a sum of money from an account to conduct other transactions. TradeMax provides you with such a function to better manage your portfolio.

Return of capital(ROC) refers to payments back to “capital owners” (shareholders, partners, unitholders) that exceed the growth (net income/taxable income) of a business. The ROC effectively shrinks the firm’s equity in the same way that all distributions do. It is a transfer of value from the company to the owner. Since the ROC shrinks the business and represents a return of the investors’ own money, the ROC payment received may not be taxed as income. Instead it may reduce the cost base of the asset. This results in higher capital gains when the asset is sold, but defers tax.

Div Paid on ShortSalesWith the market as it is, many of you have decided to include shorting in your investment strategy. It’s quite possible that one of the companies that you shorted was one that pays a cash dividend. Mauritius Since you are likely borrowing the shares that you initially sold to create your short position, you are required to reimburse the lender of the stock for the dividends that he missed. Your broker probably notified you of that fact, and reduced your cash position in your account by the amount of the dividend.

Combine TradesTo avoid the wash sales in one day, TradeMax allows you to combine your trades with same buying slots (TradeDate, Action and Symbol are all the same).

Match Your TradesTradeMax uses strict “First In, First Out” (FIFO) trade matching as a default. It also provides the function which enables the user to abandon FIFO trade matching and “force-match” specific trade transactions together into a tax lot. It will help you to avoid changing your long-term investment to short-term one.